RE:RE:RE:RE:RE:RE:RE:looking good!Methinks that US institutional investors are fully realizing how undervalued MEG and other Canadian energy stocks are in relation to current oil / natural gas prices. MEG and all the other oil sands producers are still discounted to other energy peers as they're considered 'dirty'. Definitely, an upswing of 40% is warranted as 'green' investors exited from the oil sands energy companies during the covid lockdowns. ESG and 0% carbon emissions are just marketing with no real solutions to resolve the world's polluting ways.
rad10 wrote: Strong work! Fortune favours the brave. Looks like you got in earlier than me. Congrats.
Moemoney42 wrote: Oops a bit of a calculation error.. $22 is only a 900% gain.. $24.20 is my 10 bagger for profit.! Got excited with the price move.. LOL.. ;-) nikehercules wrote:
Glad to see another MEG veteran Moemoney42!
It was gut wrenching back then. MEG had the hedges so I picked them up along with the big players (CVE, IMO, SU, CNQ). I figured the large caps would survive a covid holocaust.
MEG during 2020 was more like an option with an unknown expiry date.
I picked up a big position of CNQ around $20 during Trump's initial covid speech only to have it dive to below $10. That was painful!
It wasn't easy holding back then. The 1918 pandemic lasted 2 years and Wuhan was ending their lockdown, so that provided the insight to be patient. Rational vs. emotional mind definately at play.
I will continue to be patient with MEG, but I did sell the large caps into the fog of war.